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Credit Chains and Sectoral Comovement : Does the Use of Trade Credit Amplify Sectoral Shocks?

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dc.contributor.authorRaddatz, Claudio
dc.date.accessioned2012-05-25T14:38:11Z
dc.date.available2012-05-25T14:38:11Z
dc.date.issued2008-02
dc.description.abstractThis paper provides evidence of the presence and relevance of a credit-chain amplification mechanism by looking at its implications for the correlation of industries. In particular, it tests the hypothesis that an increase in the use of trade-credit along the input-output chain linking two industries results in an increase in their correlation. The analysis uses detailed data on the correlations and input-output relations of 378 manufacturing industry-pairs across 44 countries with different degrees of use of trade credit. The results provide strong support for this hypothesis and indicate that the mechanism is quantitatively relevant.en
dc.identifierhttp://documents.worldbank.org/curated/en/2008/02/9025045/credit-chains-sectoral-comovemen-t-use-trade-credit-amplify-sectoral-shocks
dc.identifier.doi10.1596/1813-9450-4525
dc.identifier.urihttps://hdl.handle.net/10986/6414
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4525
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO FINANCING
dc.subjectACCESS TO FORMAL FINANCE
dc.subjectACCESS TO FUNDS
dc.subjectACCOUNTING
dc.subjectACCOUNTS PAYABLE
dc.subjectACCOUNTS PAYABLES
dc.subjectACCOUNTS RECEIVABLE
dc.subjectACCOUNTS RECEIVABLES
dc.subjectADVERSE EFFECT
dc.subjectAFFILIATED ORGANIZATIONS
dc.subjectAMOUNT OF CREDIT
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANK CREDIT
dc.subjectBANK DEBT
dc.subjectBANK FINANCING
dc.subjectBANKRUPTCY
dc.subjectBANKS
dc.subjectBENCHMARK
dc.subjectBIASES
dc.subjectBORROWING
dc.subjectBUDGET CONSTRAINT
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL FORMATION
dc.subjectCD
dc.subjectCENTRAL BANK
dc.subjectCHECKS
dc.subjectCOMMODITY
dc.subjectCONTRIBUTION
dc.subjectCREDIT CRUNCH
dc.subjectCREDIT MARKETS
dc.subjectCREDIT MECHANISM
dc.subjectCREDITORS
dc.subjectDEBT
dc.subjectDEBTS
dc.subjectDEFAULTS
dc.subjectDEPENDENT
dc.subjectDERIVATIVE
dc.subjectDIRECT COST
dc.subjectDIVERSIFICATION
dc.subjectDOWN PAYMENTS
dc.subjectECONOMIC ANALYSIS
dc.subjectECONOMIES OF SCALE
dc.subjectENDOWMENTS
dc.subjectENTREPRENEUR
dc.subjectENTREPRENEURS
dc.subjectEQUALITY
dc.subjectEXCLUSION
dc.subjectEXPORTS
dc.subjectEXTERNAL FINANCING
dc.subjectFILING FOR BANKRUPTCY
dc.subjectFINANCIAL ANALYSIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL DIFFICULTIES
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL HEALTH
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIARY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFORMAL BANK
dc.subjectFORMAL CREDIT
dc.subjectFUTURE RESEARCH
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGINI COEFFICIENT
dc.subjectGROWTH RATE
dc.subjectINCOME
dc.subjectINDIVIDUAL ENTREPRENEURS
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL BANK
dc.subjectLATE PAYMENT
dc.subjectLIMITED LIABILITY
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY PROBLEMS
dc.subjectLOW INCOME
dc.subjectMACROECONOMICS
dc.subjectMONETARY POLICY
dc.subjectNOMINAL VALUE
dc.subjectPRICE INDEX
dc.subjectPRIVATE CREDIT
dc.subjectPROBABILITY
dc.subjectPRODUCTIVITIES
dc.subjectPRODUCTIVITY
dc.subjectPURCHASES
dc.subjectREAL GDP
dc.subjectRISK NEUTRAL
dc.subjectSALARIES
dc.subjectSALES
dc.subjectSHORT TERM DEBT
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM FINANCING
dc.subjectSTATEMENT
dc.subjectSUB-SAHARAN AFRICA
dc.subjectSUPPLY OF CREDIT
dc.subjectTOTAL COST
dc.subjectTOTAL REVENUE
dc.subjectTRADE CREDIT
dc.subjectTRADE CREDITORS
dc.subjectVALUABLE
dc.subjectVALUE ADDED
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWESTERN EUROPE
dc.titleCredit Chains and Sectoral Comovement : Does the Use of Trade Credit Amplify Sectoral Shocks?en
dspace.entity.typePublication
okr.crossref.titleCredit Chains And Sectoral Comovement: Does The Use Of Trade Credit Amplify Sectoral Shocks?
okr.date.doiregistration2025-04-10T07:18:15.978462Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2008/02/9025045/credit-chains-sectoral-comovemen-t-use-trade-credit-amplify-sectoral-shocks
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.guid736891468155964716
okr.identifier.doi10.1596/1813-9450-4525
okr.identifier.externaldocumentum000158349_20080221094611
okr.identifier.internaldocumentum9025045
okr.identifier.reportWPS4525
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/02/21/000158349_20080221094611/Rendered/PDF/wps4525.pdfen
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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